The global generative artificial intelligence (AI) in music market reached a value of nearly $419.85 million in 2024, having grown at a compound annual growth rate (CAGR) of 53.34% since 2019. The market is expected to grow from $419.85 million in 2024 to $4.3 billion in 2029 at a rate of 59.25%. The market is then expected to grow at a CAGR of 39.32% from 2029 and reach $22.57 billion in 2034.
Marketplace
‘The Ultimate Goal Is to Make More Movies,’ Says CTO of Stability AI
Hanno Basse discussed his company’s work and the evolution of generative AI in filmmaking during this week’s HPA Tech Retreat, saying, “The ultimate goal is to make more movies.” Basse weighed in on subjects such as data provenance and budgets, and spoke about progress being made in filmmaking, predicting that in “probably two years, we’re going to have very high performing open source foundation models.”
On social video and music, short vs long-form and pressure on creators…
Research firm MusicWatch reckons that there are now 103 million music listeners on social-video apps in the US alone, averaging nearly an hour a day discovering and listening to music within those apps. Its study also explores the competitive landscape. According to MusicWatch’s latest ‘audiocensus’ survey, TikTok accounts for a 29% share of weekly social video hours for American music listeners, ahead of YouTube Shorts (26%) and Instagram Reels and Facebook Reels (both 18%).
Source: On social video and music, short vs long-form and pressure on creators…
Will Licensing Hurdles Delay Spotify Remixes?
The question is front of mind on the heels of Spotify’s latest teaser for a superfan-geared offering, which reports have referred to as Supremium, Deluxe, and Music Pro alike over the years. Against the backdrop of streaming-growth slowdowns in established markets, it makes more sense than ever (in theory) to squeeze additional revenue out of diehard fans. But not everyone is on board with Spotify’s expansion ambitions.
How Cutting Edge’s Billion-Dollar Venture With Warner Bros. Discovery Will Work
Earlier this month, Warner Bros. Discovery and Cutting Edge Group announced they were teaming up to launch a joint venture to generate more money from one of the original Hollywood studios’ catalog of 400,000 movie and television songs. This novel arrangement was inspired by WBD’s need to get more out of its most valuable assets as the rise of streaming shakes the fundamental economics underlying modern media businesses.
Source: How Cutting Edge’s Billion-Dollar Venture With Warner Bros. Discovery Will Work
BMI urges songwriters, publishers to speak out against ‘additional regulation of PROs’
US performance rights organization BMI has launched a campaign urging its affiliates (songwriters, composers, and publishers) to make their voices heard in the US Copyright Office’s inquiry into PROs. The USCO launched an investigation on Monday (February 10) in an effort to answer “questions related to the increase in the number of PROs and the licensing revenue distribution practices of PROs.”
The End of TV Is Here
On March 2, one of the last pillars of linear TV will fall: the Academy Awards. Hollywood’s biggest night is a celebration of cinema, but this year it may as well double as a requiem for traditional TV. For the first time in the history of the broadcast, the Oscars will be streamed live outside of the pay TV ecosystem, on Disney’s Hulu, alongside its broadcast home on ABC.
Source: The End of TV Is Here
Thousands of Artists Demand Christie’s Cancels AI Art Sale
An open letter to the house signed by almost 4,000 people is demanding Christie’s bins its “Augmented Intelligence” auction, slated to run from February 20 to March 5. It’s billed as the “first-ever AI-dedicated sale at a major auction house.” Artists Kelly McKernan and Karla Ortiz, two signatories the letter. They are taking AI companies to court over claims that the firms’ image generation tools have used their work without permission.
Source: Thousands of Artists Demand Christie’s Cancels AI Art Sale: ‘AI Models Exploit Humans’
Spotify slams the NMPA’s takedown action: ‘This is a press stunt.’
Responding to the announcement on Tuesday, a Spotify spokesperson slammed the NMPA’s takedown action, calling the move “a weak reaction” to the court’s dismissal of the MLC’s ‘bundling’ lawsuit against Spotify last week. “The fact that the NMPA waited months, despite multiple written requests by Spotify for details, which they never bothered to answer, to report these episodes only further emphasizes that this is a press stunt.”
Spotify Hits First Full-Year Profit, Adds 35M Users
The audio giant reported 675 million monthly active users, the largest fourth-quarter increase in Spotify’s history, as the company reported momentum from “strong holiday and Wrapped campaigns.” Paid subscribers grew 11 percent year over year to 63 million, up from 252 million last quarter and 3 million above guidance. Both came in above Spotify’s guidance.